Group 1 - The first duty-free store in Guangzhou officially opened on August 26, marking a significant step in implementing national duty-free policies and establishing Guangzhou as an international consumption center [1][2] - The store is a collaboration between China Duty Free Group, Guangzhou Baiyun International Airport, and two listed companies under Lingnan Group, showcasing a strategic partnership in the retail sector [1] - Located in the CBD of Tianhe District, the store aims to attract high-end consumers and international tourists, contributing to the economic growth of the Greater Bay Area [1] Group 2 - The duty-free store introduces an innovative shopping model combining "duty-free + taxable," "imported + domestic," and "offline + online," creating a diverse product matrix that includes beauty, jewelry, fashion, and high-end beverages [2] - The store features a departure tax refund service to stimulate outbound tourist spending and promote the return of overseas consumption, enhancing the global presence of domestic brands [2] - The opening day saw the launch of an autonomous driving service and a trial run of a direct bus service between Guangzhou and Hong Kong Airport, indicating a focus on improving transportation links for international travelers [2]

Core Insights - The first city duty-free store in Shenzhen, covering nearly 3,000 square meters, officially commenced trial operations on August 23, 2025 [1] - The store is a collaboration between China Duty Free Group, Shenzhen Duty Free Group, and Shenye Group, aiming to enhance tourism consumption among outbound travelers and promote the return of overseas spending [1] Business Model - The store adopts an upgraded business model of "duty-free + taxable," "imported + domestic," and "offline + online" to attract consumers [1] - It aims to stimulate tourism consumption and guide overseas spending back to China, contributing to the promotion of domestic brands [1] Product Offering - The product range includes both duty-free and taxable items, with a focus on beauty and skincare, watches and jewelry, and high-end alcoholic beverages [1] - The store features a diverse product matrix highlighting national trends, technology electronics, international brands, and traditional Chinese brands [1]